Coinbase to List KAIO Spot Trading

On Wednesday, May 6, The Wall Street Journal reported that vessels attempting to transit the Strait of Hormuz received a verbal warning from Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy, which stated the waterway remains closed. A Greek shipowner waiting to transit the strait received a recorded message warning all vessels in the Persian Gulf and Gulf of Oman: any ship approaching the strait without authorization or straying from the designated route will be “targeted for action.” Iranian state television noted roughly 1,500 vessels are currently preparing to transit the strait, adding the ships cannot complete their voyages without IRGC Navy approval. (Source: FXStreet)

On May 6, Bitget data shows NVIDIA’s stock climbed 4.58% to $205.50 per share, with a market cap of $500 billion.

AMD CEO Lisa Su told CNBC in a May 6 interview that AI agents are fueling significant demand for computing power across the entire AI lifecycle, sharply lifting the company’s CPU market growth outlook. Enterprises are now truly recognizing AI’s value to their businesses, with adoption accelerating rapidly. Beyond AI accelerators, CPU demand remains strong because the latest AI agents require more general-purpose computing support. She noted that the market historically assumed a CPU-to-GPU demand ratio of roughly 1:4 or even 1:8, but that ratio has now narrowed to nearly 1:1. AMD’s prior forecast (issued in November 2023) projected the addressable CPU market to grow at an annual rate of 18%–20%. That outlook has now been revised upward to over 35%, with the CPU market expected to exceed $120 billion by 2030. Lisa Su added that AI’s practicality and commercialization pace are faster than expected six months ago—validating AMD’s long-term assessment of AI trends.

On May 6, Core Scientific announced the acquisition of Oklahoma-based Bitcoin mining firm Polaris DS LLC for $421 million. The deal grants Core Scientific access to Polaris’s 440-megawatt power contract with Oklahoma Gas & Electric— a move aimed at accelerating its AI business expansion. The transaction is expected to close in Q3 2026. Currently, Core Scientific is retrofitting and expanding existing mining facilities in Texas, Georgia, North Carolina, and Oklahoma to support high-density hosting services for AI and compute-intensive workloads. The company has broken ground on an 82.5-megawatt facility in Muskogee, with plans to eventually offer 1 gigawatt of leasable power at the site.

On May 6, OpenAI announced MRC (Multipath Reliable Connection)—a new open networking protocol developed in partnership with AMD, Broadcom, Intel, Microsoft, and NVIDIA. The protocol enables faster, more stable performance for large-scale AI training clusters while cutting down on GPU resource waste, OpenAI stated. MRC is now deployed across all of OpenAI’s large supercomputers powering state-of-the-art model training—including the Abilene, Texas facility it operates with Oracle OCI and the Microsoft Fairwater supercomputer. Additionally, the protocol is available for industry-wide use and development via the Open Compute Project.

May 6th — Per an official announcement, Coinbase has launched gold and silver perpetual futures contracts, available for trading to eligible non-U.S. users. Specifically, the GOLD-PERP tracks 1 troy ounce of physical gold, while the SILVER-PERP tracks 1 troy ounce of physical silver. Both contracts settle in USDC, offer 24/7 trading, and support up to 25x leverage. Institutional users may trade on the Coinbase International Exchange, and retail users can access the contracts via the Coinbase website and app. Coinbase noted this is part of its “traditional financial assets on-chain” strategy, which aims to build an “Everything Exchange” encompassing crypto assets, traditional assets, and new products. Additionally, Coinbase said it is working with the CFTC to expand 24/7 gold and silver futures trading in the U.S. market. The firm expects this to enable weekend hedging, continuous price discovery, and cross-asset strategy execution.